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MBA IN INTERNATIONAL BUSINESS

If you are preparing to study MBA abroad there are numerous options available, such as an MBA in Finance, MBA in Marketing, MBA in International Business. MBA is one such program that increases your credibility in International Business.

Multinational companies across all over the world have a strong demand for an MBA graduate irrespective of the field they have done their degree in. Your professional skills will improve and you will get practical knowledge and as well as theoretical knowledge by studying internationally.

While pursuing an MBA you will learn about business management and after completing it you will know how to successfully run a business or how to achieve success in your respective career. That is why an MBA in international business is now the hot selling cupcake that everyone wants to try in order to succeed.

Every country has its own laws to follow in order to run their business and this is what you will be learning by pursuing an MBA in International Business.

What is an MBA in International Business?

MBA in International Business intro
MBA in international business is a 2-year post-graduate program that can be pursued by any graduate. It is one of the most trending specializations nowadays because companies demand and require graduates with an MBA in international business to represent them at an international level.

In this course, you majorly study foreign trade management, imports, and exports, cultures, and policies of different countries or where the company is based. An MBA in International business is a growing market. Any multinational level company has one goal which is to grow and start a business in various countries. Here’s where the role of MBA in International Business comes to play as the program is all about learning to trade in Foreign Countries.

 Apparently, an MBA in International Business is very popular among Indian students who wish to pursue higher studies abroad and would like to have a career there.

In this program, you will be studying about how to run a business internationally by knowing the laws of other countries and foreign trades and case studies and all the other tech laws.

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Core courses you will be studying in MBA in International Business are:

  • International Supply Chain Management: This course explores some of the main issues present in international logistics.
  • Financial Derivatives and Risk Management: Study of financial derivatives that can be used for either.
  • International Contact Management: Study of various contracts used in Business.
  • Financing of International Trade: Study of international trade and finance.
  • Managing Global Compliance in Exports: Management of global agreement in exports will be taught.
  • International Human Resource Management: The aim of this course is to educate you as a human resource manager in an international context and to improve the quality of your professionalism.
  • International Advertising and Brand Management: This course teaches about advertising and branding at the international level.
  • Foreign Language for Business: The Selection of a foreign language is up to students.

Some of the Elective Courses in Sustainable Management and
Entrepreneurial courses are:

  • Triple Bottom line Accountability and Management
  • Green Marketing and Environmental Product Design/Recycling
  • Corporate Social Responsibility and Ethics
  • Sustainable Enterprise Development and Leadership
  • Entrepreneurial Innovation
  • Intellectual Property
  • Entrepreneurial Strategy
  • Entrepreneurial Forecasting and Planning

 

Master’s program in MBA in International Business prepares you for the business world by teaching you the strategies and global business trends.

MBA in international business is a program that is specifically designed for rewarding career opportunities in Business Management all over the world. This course is all about developing and understanding the Resources that exist on a global level.

Eligibility for MBA in Internatinal Business

MBA in International Business eligibility
To pursue MBA in International Business the basic requirement is –

  • Any graduate with a 3- or 4-years bachelor’s degree. 
  • All the universities accept applications and most of them need an entrance exam for admission. To pursue MBA, some of the universities/Institutions have a requirement of 1 to 2 years of work experience, however for most of the universities with a bachelor’s degree and entrance test you can get an admission.
  • An English language proficiency test is required.
  • Some of the colleges hold their own eligibility entrance tests whereas the common entrance test is organized at the national level. For national students MAT, CAT, XAT, SNAP, are few entrance tests.

Entrance Tests and Admission Process

MBA in International Business entrance exams
Top universities at the global level accept entrance exam scores to give admission. Such a few tests are TOEFL, IELTS, and GMAT.

GMAT is given preference over some of the tests. A high GMAT score is preferable everywhere. You need verbal ability and quantitative ability along with a high GMAT score to get admission in top universities.

Similarly, a low GMAT score doesn’t mean that you can’t get an admission since every aspect matters. Even if you have studied in an English medium still an English proficiency test is compulsory. The minimum band score is 6.5.

Few universities accept applicants without GMAT as it is not mandatory for them and they replace GMAT with a personal interview. But if you want to get into a university without taking any chances of not being selected then an ideal GMAT score is all you need.

Few schools accept GRE scores too. But GMAT gives you an edge over all other tests.

TOEFL, IELTS is English proficiency tests which are needed in order for you to prove your English efficiency verbally and quantitatively, in order to get into any university you need a minimum of 6.5 band score and not less than 6.0.

Admission Process

Typically, almost every other university has only two intakes:

  • February
  • July

Some of the universities offer trimesters which are usually held in November.

In order to get admission first you need to apply to your preferred university before 6 months. After submitting the application, you need to apply for an entrance test.

Some of the universities have a requirement of mandatory work experience which may vary from 3 to 5 years.

 

Required Skill Set

  • Communication skills
  • Fluency in English
  • Analytical skills
  • Problem-solving skills
  • Management skills
  • Research-oriented
  • Interest in changing financial trends and economies of other countries
  • Business aptitude.

When you apply for a particular university there are few components in the application they prefer,
some of them are mentioned below:

  • GMAT score
  • GMAT Quant percentile
  • MBA essays
  • MBA admission interviews
  • Undergraduate GPA
  • Recommendations
  • Undergraduate college reputation
  • Length of experience
  • International experience
  • Industry of employment
  • Undergraduate major
  • Languages

Top Universities That Offer MBA in International Business

Universities that offer MBA in International Business at Global Level are:

Ross School of Business, University of Michigan

Course Duration: 16 Months

Course Fee: $135,992

Columbia University

Course Duration: 2 years

Course Fee: $114,309

Haas School of Business, Berkeley, California

Course Duration: 2 Years

Course Fee: $101,534

Harvard University, United States

Course Duration: 2 years

Course Fee: $146,880

Darla Moore School of Business, South Carolina

Course Duration: 22 months

Course Fee: $143,160

Richard A. Chaifetz School of Business, Missouri

Course Duration: 21 months

Course Fee: $52,964

Few Universities that offer MBA in IB in India are:

CMS Business School, Bangalore

Course Duration: 2 years
Course Fee : 9,50,000 INR

Indian Institute of Foreign Trade, New Delhi

Course Duration: 2 years
Course Fee : 7,60,000 INR

Symbiosis Institute of International Business, Maharashtra

Course Duration: 2 years
Course Fee: 14.4 lakh

ICFAI Business School, Hyderabad

Course Duration: 2 years
Course Fee: 14.4 Lakh

S.P Jain Institute of Management and Research, Mumbai

Course Duration: 16 months
Course Fee: 18 Lakh

Management Development Institute, Gurgaon, Haryana

Course Duration: 2 years
Course Fee: 23.58 Lakh

Career Opportunities After International Business Program

MBA in International Business career
After completing graduation in Abroad from any recognized university, there are many job opportunities in different sectors according to one’s interests. 

The students who pursue an MBA usually get placements through their respective universities.

 

Some of the major working areas you might want to consider are :

 

  • Export and Import Management
  • Brand Management
  • International Marketing
  • Logistics Management
  • Compliance Management
  • Foreign Exchange Management

Few of the top recruiters of Multinational companies that are globally present are:

Companies
McKinsey & Company
Citi Bank
Bank of America
Deutsche Sachs
HDFC Bank
Amazon
Google
HSBC
Wipro
Cognizant
Accenture
Accenture

The company that hires you requires your understanding of currency exchanges and tax laws. In this field, you must have the knowledge to create and analyze financial statements for other countries.

After completing your course most of the countries offer 2 years and some of them offer a 1-year work permit visa through which you can actually start working right after the course completion.

No matter in which field you want to get in, it is important to have an MBA. Once you have entered the job market you will be meeting the clients globally.

Salaries after MBA in International Business

MBA in International Business salaries
The advantage of already studying in one of the top universities abroad is having previous knowledge about the market value and your degree value globally.

Some of the numbers in different countries are:

  • Canada: $107,700 per year, whereas most experienced candidates can make up to $163,284 per year.
  • Germany: $94,100 per year
  • Japan: $106,600 per year
  • Singapore: $105,300 per year
  • Italy: $86,400 per year
  • United Kingdom: $122,900
  • Australia: $116,200
  • France: $116,200
  • The United States: $102,100
  • Switzerland: $123,500

(salary numbers are in USD)

After completing the course, you will find that the maximum number of opportunities are offered by international corporations.

Salary in this field depends on the specialization of your course, experience, and area of which one works. With experience, the salary is likely to increase.

Conclusion

MBA in International Business is for those aspirants who are interested and are eagerly waiting to start their careers abroad and respectively who have a lot of knowledge in accounting, banking, and such other sectors.

As you already know the international market never slows down, which will result in more opportunities for MBA graduates. Having complete knowledge about foreign trade will be very useful in International business.

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